Time Zone: GMT+3h30
ISO Code: IR
Dialing Code: +98
Iran’s main export commodities include carpets, fruit, gases, hides and skins, iron steel, metal ores and scraps, petroleum products and synthetic lubricants, while the main imports include pharmaceuticals, plastic products, professional and scientific instruments, raw materials, food ingredients, iron steel, machinery, military equipment, mineral products and oil products.
The exchange control is vested in the Bank Markazi (Central Bank of Iran) and all foreign exchange transactions must take place through this bank or authorised banks. There are no restrictions on the import of foreign currency if declared on arrival and export of foreign currency is allowed up to the declared limit of imported goods, however all imports into Iran must be authorised by the Ministry of Commerce before being registered by authorised banks.
Several economic co-operation agreements and trade conventions were signed between Iran and the member states of ECO like Afghanistan, Azerbaijan, Kazakhstan, Kyrghistan, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan. April 1995, Iran signed an economic co-operation memorandum with Armenia and Turkmenistan. 30th July 1995, Iran also signed a trade co-operation agreement with the Kingdom of Morocco.